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Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
 Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating costs, limited investments and control over chartering orders. He was among the speakers of a conference organized in Athens this week and titled: “Shipping Today & Tomorrow -International Developments, Trends and Investments in the Greek and International Shipping-Tourism Market”. According to Mr. Polemis the market will begin its comeback during 2013 or even 2014, provided that no more newbuilding orders are placed.
On the issue of shipping finance, Mr. George Gourdomichalis, head of G. Bros Maritime mentioned that things are getting more and more difficult for the backbone of the Hellenic maritime industry, which is comprised of 600-700 small and medium-sized family shipping companies, owning and managing fleets of about 6 vessels each. He also stated that ship values have dropped, which means that the cost of financing is also being increased, given that since the start of 2009, banks have been increasing speads even in older loan deals, while they are also providing finance only to their older clients.
Speaking on the same matter, Mr. Michalis Bodouroglou, President and CEO of New York-listed Paragon Shipping said that ship values are falling, the risk is high compared to the value and there is limited liquidity. On the other hand, as he stressed, the current crisis creates opportunities and businesses with strong balances will emerge reinforced from this situation and will grow even more. Mr. Bodouroglou also provided with a positive note regarding the current difficulties in securing financing, since the reduction in numbers of newbuilding orders, maximizes the prospects of developing the current ones.
An issue which has risen recently revolves around the Hellenic shipowners’ stance towards the country’s troubled economy. Mr. Polemis said that Hellenic shipowners could invest in other sectors of the country’s economy (some are already doing exactly that), like tourism, ports, green energy, natural gas and oil. Still, besides the patriotism they have exhibited they aren’t any different from most investors, in the fact that the Hellenic economy is lacking in institutional and legislative frameworks necessary to attract invesments and a bad public sector. Speaking on the matter, Mr. Bodouroglou said that the Hellenic shipowners are staying in Hellas by choice and ask nothing in return from the State. Hellas is a maritime centre. All banks, all shipbrokers and all shipbuilders are located here. According to Mr. Gourdomichalis, the presence of the country’s maritime industry provides the State with power and prestige when speaking with its piers and investors. Hellenic Shipping represents a market share greated than 50% of the EU and nearly 20% worldwide. It’s the No1 pillar of the country’s economy, with current account balance of over 140 billion euros during the past decade he said.
Mr. Alexandros Tourkolias, deputy CEO of NBG (National Bank of Greece) spoke about the international financial crisis and its implications on shipping, pointing out to the rise of the cost of money, as one of the key problems faced by shipowners and shipping companies. Mr. Tourkolias also talked about the significant improvement of the average age of the Hellenic fleet, which has fallen from 22 years old back in the early 90s to only 15 years old today. Finally, he said that the current debt crisis is causing banks to adopt more cautious strategies in terms of providing loans, while they are also limiting their available capital, ahead of probable recapitalizations.
Mr. Antonis Lamnidis, senior executive with HSBC said that shipping financing has upward and downward cycles, mentioning that the Hellenic shipping industry is in good state, having placed orders for 600 newbuilding vessels, of a total value of $7.5 billion.
Mr. George Xiradakis, CEO of XRTC Business Consultants talked about the growing role and importance that Chinese banks could have in the country’s shipping, helping shipowners in a decisive matter. Having extensive knowledge of the Chinese banking market, Mr. Xiradakis said that the country’s banks are internationalizing and investing heavily in whatever they can get their hands on both in Europe and in Africa. In terms of shipping finance they have increased their exposure providing loans for deals worth $89.3 billion, out of the total of $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
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- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
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